You are reading

Rental Prices in Queens Continue to Rise, Up 16.5 Percent From a Year Ago

Rental prices continue to climb across Queens, according to a new report. The average rent is up 16.5 percent from a year ago. (Photo: Long Island City by Harry Gillen on Unsplash)

Sept. 12, 2022 By Christian Murray

There is no sign of a recession when it comes to the Queens rental market.

The average rent paid in August to nab an apartment in the World’s Borough was up 16.5 percent from August 2021, according to a report released by the real estate firm M.N.S.

The average price paid to rent a studio across the borough in August was $2,144, up 13.8 percent from August 2021. Meanwhile, the average one-bedroom fetched $2,588 last month, up 16.2 percent from a year earlier, while the average rent for a two bedroom was $3,387, representing an 18.5 percent jump year-over-year.

The average paid to rent an apartment in the borough of Queens in August (Source: M.N.S.)

Rental prices have jumped the most in Astoria, Long Island City and Ridgewood, according to the report.

The average rent paid last month to snag an apartment in Astoria was up 34 percent compared to August 2021. In Long Island City it was up 22.2 percent, while in Ridgewood that figure was up 19.8 percent.

The report did not include the neighborhoods of Sunnyside or Woodside.

In Astoria apartments of all sizes rented for hefty prices—and the area has well and truly bounced back from the days of the pandemic.

The average rent paid for a studio in Astoria in August was $2,282, up 20.2 percent year-over-year. The average in August 2021 was $1,899.

One-bedroom apartments in the neighborhood saw a 40 percent increase over the past year — with the August average being $2,877, up from $2,055 in August 2021.

The average rent to get into a two-bedroom apartment in Astoria last month was $3,480, up 39.6 percent compared to the same month last year. The average two-bedroom was for $2,492 in August 2021.

The average paid to get an apartment in Astoria in August (Source: M.N.S.)

The Long Island City market has also come back from the days of the pandemic.

The average price paid to rent a studio in Long Island City last month was $3,300, up 23.1 percent from a year ago; a one-bedroom fetched on average $3,986, up 20.7 percent; while a two-bedroom went for $5,624, up 22.8 percent.

The average paid to get an apartment in Long Island City in August (Source: M.N.S.)

Other neighborhoods in the borough saw significant rental price increases, although not to the same extent. Average rental prices in Ridgewood were up 19.8 percent; in Jamaica they jumped 15.2 percent; Forest Hills rose 14.1 percent; and in Jackson Heights they were up 11.5 percent.

The average rent paid in Ridgewood was affected heavily by the jump in price for two-bedroom apartments. The average price paid for a 2 bedroom in August 2022 was $3,138, up 35.4 percent from a year ago when the figure was $2,314.

A studio in Ridgewood fetched $2,118 in August 2022, up 6.1 percent from the same month in 2021. Meanwhile, the average paid for a one bedroom in Ridgewood last month was $2,621, up 16 percent compared to August 2021.

The average paid to get an apartment in Ridgewood in August (Source: M.N.S.) (Source: M.N.S.)

For more information, click here.

email the author: news@queenspost.com
No comments yet

Leave a Comment
Reply to this Comment

All comments are subject to moderation before being posted.


The reCAPTCHA verification period has expired. Please reload the page.

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Recent News

Suspect wanted for shoving E train rider onto the tracks at Sutphin Boulevard station in Jamaica: NYPD

Police from the 103rd Precinct in Jamaica and Transit District 20 are looking for a suspect who shoved an E train rider onto the tracks at the Sutphin Boulevard-Archer Avenue–JFK Airport subway station on Thursday morning.

The 39-year-old victim was standing on the southbound platform at around 4:40 a.m. when a stranger approached him and pushed him onto the track bed below in an unprovoked attack, police said Friday. The suspect fled the station onto Sutphin Boulevard and ran off in an unknown direction. EMS responded to the scene and transported the injured man to Jamaica Hospital Medical Center, where he was listed in stable condition.

Bellerose man arrested in fatal collision that killed his neighbor on Jericho Turnpike in December: NYPD

A Bellerose man was arrested and booked at the 105th Precinct in Queens Village on Tuesday, May 20, five months after he struck and killed his 78-year-old neighbor with his vehicle at the intersection of Jericho Turnpike and 91st Avenue.

The fatal collision occurred just after 6:40 p.m. on Saturday, December 14, 2024, as Benjamin Jean-Baptiste, 39, of Ontario Road, was behind the wheel of a 2010 Dodge Ram pickup truck traveling northbound on 91st Avenue.

Robbery suspect flees courthouse mid-trial, convicted of holding woman at knifepoint in Flushing: DA

A Flushing fugitive failed to return to court before trial and was convicted in absentia on Monday for a violent armed robbery of a young woman at her Parsons Boulevard apartment with two accomplices in 2022.

Michael Fan, 25, of Farrington Street, was found guilty of multiple burglary and robbery counts and an unlawful imprisonment charge before Queens Supreme Court Justice Gary Miret on May 19.